Regulation 45 - Cancellation or suspension of registration
Securities And Exchange Board Of India (Issue And Listing Of Securitised Debt Instruments And Security Receipts) Regulations, 2008 Chapter IX PROCEDURE FOR ACTION IN CASE OF DEFAULT
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Trustee registration suspension and cancellation require notice, hearing, continued compliance, and possible appointment of a new trustee. Cancellation or suspension of a trustee's registration is allowed for failure to comply with certificate conditions or for contravention of the Act, the ... Summary
Trustee registration suspension and cancellation require notice, hearing, continued compliance, and possible appointment of a new trustee.
Cancellation or suspension of a trustee's registration is allowed for failure to comply with certificate conditions or for contravention of the Act, the SEBI Act, or the regulations, but only after an opportunity of being heard. The Board may direct appointment of a new trustee, and the outgoing trustee must continue compliance until a replacement is appointed or the special purpose distinct entity winds up its schemes and repays investors. The provision does not affect the operation of specified enforcement and penalty provisions.
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